IOL Chemicals extends rally in a weak market, zooms 124% since April

Foreign portfolio investors increased their holding in IOL Chemicals to 2.61 per cent in March 2020 quarter, from 1.32 per cent at the end of December 2019 quarter.

Shares of IOL Chemicals & Pharmaceuticals were trading higher for the fourth straight day on Thursday, up 2 per cent at Rs 394 -  hitting new high on the BSE in an otherwise weak market.

Since April, thus far in the financial year 2020-21, the stock has zoomed 124 per cent from the level of Rs 176 on the BSE. In comparison, the S&P BSE Sensex has gained 6.7 per cent during the same period.

In past 12 trading days, IOL Chemicals & Pharmaceuticals has rallied 43 per cent after the company said it was recognized as a 'Three